Those of you who have been trading Forex, stocks or other assets for some time, already know the answer to this question. To those traders who are just beginning their journey, we say: the most profitable way to trade Forex is the one that suits you best. Yes, it is that simple and complicated at the same time.
What you should know about Forex is that the “one size fits all” strategy doesn’t apply here. The best Forex trading strategy is the one that you feel most comfortable following and, of course, the one that yields the most profit. Even though your most profitable type of trading will never result in 100% success, you should always be determined to achieve the best results possible.
So, what do you do to find your most profitable way to trade Forex?
Most Profitable Trading Platform
You launch the process by finding the most profitable trading platform – an online software that will become your digital gateway to Forex market and stock market trading. The level of speed and reliability of your trading platform of choice can make or break your trading experience.
While this might seem like a very bold statement, we have multiple reasons to claim that traderXlab is in the top 10 trading platforms at the time of writing. TraderXlab is a leader when it comes down to overall client success and profitability rate. Forex trading is a highly speculative business and not everyone can make a career out of it. If worst comes to worst and you decide to one day leave day trading behind, by then, you will have gained priceless knowledge in finance and investment, as well as solid hands-on live market experiences. The way you seek financial freedom and investment opportunities will have been completely transformed.
It is important to mention that by becoming an active trader with traderXlab, you can enjoy various perks and bonuses, like expert advice about free Forex systems and strategies, 100% margin booster, enhanced leverage, etc. TraderXlab offers the best Forex trading app for beginners that are willing to learn the art of online trading. You’re in good hands when you know you can get the best free Forex training, professional financial advice and the latest high-end trading platform.
Simple Set and Forget Strategy
Perhaps, the most popular and refreshingly unique way to invest for anyone, including novice traders. This simple set and forget strategy requires minimum preparation and can be a highly effective way to get into passive investment. Intrigued? Welcome to Copy Trading.
Copy Trading aka Social Trading allows individuals of all levels of expertise to find successful traders and automatically copy their activity. All you need to do as a copy trader is to make sure the trader you choose to copy has a high win ratio and has been actively trading for at least a couple of years.
There are two things you need to remember about this simple set and forget strategy. One, it is NOT 100% risk-free. Traders are people. Predicting market movements with absolute accuracy is virtually impossible. Two, copy trading is a perfect way to generate passive income. However, by copying others, you will never be able to learn to actively trade yourself.
How Copy Trading Works
Once a trader whose activity you’d like to copy has been selected, the traderXlab copy trading platform will connect a part of your portfolio to that of the trader you choose. Once enabled, all the selected trader’s actions will be copied to your account. Risk management rules apply at all times, regardless of the type of investment. Thus said, it is not recommended to invest more than 20% of your portfolio. If this is your first time testing a new promising trader to copy, you may consider investing only 10% before you see the results over a period of time.
Apart from doing a bit of research on the traders with the highest potential and being true to the good risk management rules, you don’t need to do anything else. The copy trading platform is entirely automated.
Most Profitable Forex Day Trading Strategy
When you’re ready to step above and beyond Copy Trading and dive into the real world of stock market trading, we strongly advise you to read about different trading styles and techniques, used by professional traders. To find your most profitable Forex day trading strategy, be sure to head over to one of our most popular articles here.
Good day trading education is a key element to how you can grow your trading account with minimum risk. While your account setup will only require a few minutes of your time, learning all the tricks of the trade will take much longer.
Reading the latest news and articles about trading on traderXlab is a great way to stay on top of the game. In addition, your personal financial advisor is always at your service, whether you need a second opinion about a particular stock, or a new perspective on your new trading plan.
What’s your most profitable Forex day trading strategy? Share your thoughts in the comment section below!